Impact of a Decline in XEX Membership on the Revenue Base
First written in FY2017. 4 of 7 entries say "Restated". Latest entry: FY2025.
Y's table moved to the "Worse" side of this theme in 2021, 4 years after the typical company in this theme (2017).
The whole theme swung hardest in 2020: 2 of 7 companies on the "Worse" side.
3 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「Use of the restaurants by members of the “XEX MEMBERS CLUB” is one of the Company’s earnings bases, but membership may decline.」
The Company continued to disclose the risk of lower revenue due to declining XEX membership as a low-impact, low-likelihood risk, while positioning member use as one of its earnings bases. - FY2024RestatedAnnual report
「Use of the restaurants by members of the “XEX MEMBERS CLUB” is one of the Company’s earnings bases, but membership may decline.」
The Company continued to disclose the risk of lower revenue due to declining XEX membership as a low-impact, low-likelihood risk, while positioning member use as one of its earnings bases. - FY2023SoftenedAnnual report
「Use of the restaurants by members of the “XEX MEMBERS CLUB” is one of the Company’s earnings bases, but membership may decline.」
The risk of lower revenue due to declining XEX membership continues to be disclosed, but both impact and likelihood were assessed as low in the risk table, weakening the wording from the previous emphasis on declining membership. - FY2021WorsenedAnnual report
「As of the end of February 2021, the Company had approximately 4,700 members. Restaurant use by members forms the Group’s earnings base, and a decline in membership may affect the Group’s business results.」
Membership declined from approximately 4,800 previously to approximately 4,700, while the risk of an impact on the earnings base from declining membership continued to be disclosed. - FY2020RestatedAnnual report
「The Group’s membership program provides points and other benefits based on the amount spent at XEX stores, and had approximately 4,800 members as of the end of February 2020. Restaurant use by members forms the Group’s earnings base, and a decline in membership may affect the Group’s business results.」
The Company continued to disclose the risk that declining XEX membership could affect business results, with XEX membership disclosed at approximately 4,800. - FY2018RestatedAnnual report
「As of the end of February 2018, the Company had approximately 4,500 members. Restaurant use by members forms the Company’s earnings base, and a decline in membership, among other factors, may affect the Company’s business results going forward.」
XEX membership was reported at approximately 4,500, with member use positioned as an earnings base and the risk of declining membership continuing to be disclosed. - FY2017First statedAnnual report
「As of the end of February 2017, the Company had approximately 4,500 members. Restaurant use by members forms the Company’s earnings base, and a decline in membership, among other factors, may affect the Company’s business results going forward.」
The Company identified approximately 4,500 XEX members as its earnings base and, for the first time, explicitly stated the impact of declining membership on business results as a risk.